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Divestment proceeds pegged at Rs 11,356 cr
March 21, 2003 18:54 IST
The government has raised over Rs 11,356 crore (Rs 113.56 billion) from divestment of public enterprises during the past three years.
Telecom major Videsh Sanchar Nigam accounted for almost a quarter chipping in with Rs 3,689 crore (Rs 36.89 billion) followed by auto major Maruti with an expected figure of Rs 2424 crore (Rs 24.24 billion), which could go as high as Rs 3158 crore (Rs 31.58 billion) upon completion of three tranches of divestment, an official release said.
IPCL accounted for Rs 1490 crore (Rs 14.9 billion) while oil marketing entity IBP pitched in with Rs 1153 crore (Rs 11.53 billion) followed by Balco at Rs 826 crore (Rs 8.26 billion) and Hindustan Zinc with Rs 445 crore (Rs 4.45 billion).
Other PSUs, which were divested include CMC (Rs 152 crore), Paradeep Phosphate (Rs 151 crore) and Modern Food (Rs 105 crore).
The government also divested several hotel properties including Centaur Mumbai (Rs 83 crore), Centaur Juhu (Rs 153 crore), Kanishka (Rs 92 crore), Lodhi (Rs 71 crore) and Indraprastha (Rs 43 crore).
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